A firm purchases $600,000 worth of raw materials and pays wages and salaries of $100,000 and dividends of $200,000 . If the firm sells its output for $1 million, the firm's value added to GDP is

Which of the following set of events is most likely to result in moderating the phases of a business cycle?

a. a war coupled with a major improvement in communications technology b. higher interest rates coupled with a decrease in the demand for housing c. the invention of the silicon chip coupled with the invention of a new energy source d. decrease in capital stock coupled with the invention of high-definition television e. a war coupled with higher interest rates

A given supply curve illustrates

A) the relationship between price and quantity supplied. B) the effect of a change in resource costs on quantity supplied. C) the effect of a change in technology on quantity supplied. D) the relationship between expected future prices and quantity supplied.